I recently read the headline that Facebook/meta-lost about $21 billion this year investing in Meta, the metaverse, quest and virtual reality. But assuming that Facebook is a 1 trillion dollar company, technically $21 billion is actually not that much money. Also, Mark Zuckerberg is the only person around my age who has founded his company, and stuck with it, and still remains CEO. Much respect to him. Like Jeff Bezos says, Mark Zuckerberg isn’t a missionary who just wanted to build a company, flip it, take a public and make a bunch of money and peace out. Instead he is a missionary, somebody who doesn’t really care for money, but a greater vision.
Perhaps virtual reality, the meta-verse, etc. is a bad idea. But, it is a more fun risky entrepreneurial endeavor to try to build out that space, instead of sticking to the old boring Facebook/Instagram traditional social media approach.